Sector Update: Health Care Stocks Decline Premarket Friday

MT Newswires Live11-15 22:13

Health care stocks were declining premarket Friday, with The Health Care Select Sector SPDR Fund (XLV) 0.4% lower and the iShares Biotechnology ETF (IBB) down 0.9%.

Alignment Healthcare (ALHC) shares were down past 14% after the company announced privately negotiated subscription deals with certain investors to issue $330 million of 4.25% convertible senior unsecured notes due Nov. 15, 2029.

TFF Pharmaceuticals (TFFP) stock was more than 75% lower after its board approved the company's dissolution and liquidation.

Eyenovia (EYEN) shares were down more than 58% after the company said that a phase 3 study evaluating its drug-device combination of low-dose atropine in the company's Optejet dispensing platform for pediatric progressive myopia did not meet its primary endpoint.

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